17.05.2011 - French government slaps new council tax on foreign-owned second homes

A French cabinet ruling last week has approved a new council tax that will be imposed on property belonging to non-residents. It will affect 360,000 properties across the country, many of which are holiday homes owned by British and Dutch foreigners.
The tax aims to take 20 per cent of a propertyís rental value, the rentable cost of a building if itís on the market. And it is designed to cut Franceís gaping budget deficit by about 176 million euros per year..............................................Full Article: Source